Quest Partners LLC Invests $270,000 in Origin Bancorp, Inc. (NASDAQ:OBK)

Quest Partners LLC bought a new position in shares of Origin Bancorp, Inc. (NASDAQ:OBK) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,510 shares of the company’s stock, valued at approximately $270,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Great Lakes Advisors LLC increased its position in shares of Origin Bancorp by 11.3% during the second quarter. Great Lakes Advisors LLC now owns 124,989 shares of the company’s stock worth $3,965,000 after purchasing an additional 12,737 shares in the last quarter. Wakefield Asset Management LLLP purchased a new position in shares of Origin Bancorp during the second quarter worth about $902,000. Victory Capital Management Inc. grew its holdings in shares of Origin Bancorp by 6.4% during the second quarter. Victory Capital Management Inc. now owns 34,800 shares of the company’s stock worth $1,104,000 after buying an additional 2,100 shares during the last quarter. Rhumbline Advisers raised its stake in Origin Bancorp by 5.7% during the 2nd quarter. Rhumbline Advisers now owns 45,744 shares of the company’s stock valued at $1,451,000 after acquiring an additional 2,480 shares during the last quarter. Finally, Natixis Advisors LLC acquired a new stake in Origin Bancorp during the 2nd quarter worth approximately $317,000. Institutional investors and hedge funds own 54.68% of the company’s stock.

Origin Bancorp Price Performance

Origin Bancorp stock opened at $32.40 on Friday. The company has a market cap of $1.01 billion, a P/E ratio of 12.23 and a beta of 0.99. Origin Bancorp, Inc. has a one year low of $26.68 and a one year high of $37.56. The business has a fifty day moving average of $32.74 and a two-hundred day moving average of $31.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 0.97.

Origin Bancorp (NASDAQ:OBK) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.62 by $0.05. Origin Bancorp had a net margin of 13.18% and a return on equity of 7.94%. The firm had revenue of $164.26 million during the quarter, compared to analysts’ expectations of $90.70 million. During the same quarter last year, the business earned $0.69 earnings per share. As a group, analysts predict that Origin Bancorp, Inc. will post 2.6 earnings per share for the current fiscal year.

Origin Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, August 15th. Origin Bancorp’s payout ratio is currently 22.64%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OBK. Stephens reaffirmed an “overweight” rating and set a $39.00 price target on shares of Origin Bancorp in a report on Thursday, July 25th. Keefe, Bruyette & Woods raised their target price on shares of Origin Bancorp from $38.00 to $39.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Origin Bancorp Profile

Origin Bancorp, Inc operates as a bank holding company for Origin Bank that provides banking and financial services to small and medium-sized businesses, municipalities, and retail clients in Texas, Louisiana, and Mississippi. It offers noninterest and interest-bearing checking accounts, savings deposits, money market accounts, and time deposits; and offers commercial real estate, construction and land development, consumer, residential real estate, commercial and industrial, mortgage warehouse, and residential mortgage loans.